Calculators

Mortgage Affordability Report

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Mortgage Budget Summary

Based on your current monthly income of $5,000.00 (after tax) and your expenses and desired savings, you have $1,650.00 remaining budget per month to be invested into mortgage.

Down Payment

$

Estimated Interest Rate

%

Estimated Property Tax

%

Estimated PMI

%

Estimated Insurance /mo

$

Monthly Salary after tax

$

Food Expense /mo

$

Transportation Expense

$

Entertainment Expense /mo

$

Education Expense /mo

$

Healthcare Expense /mo

$

Technology Expense /mo

$

Other Expense /mo

$

Savings /mo

$

Affordable Mortgage Comparison

If you spend the all of the remaining budget of $1,650.00 into financing a mortgage, with your down payment of $150,000.00, you will be able to afford the homes and mortgages below on different loan terms:

Term

Home Value

Mortgage

Loan

Tax

Ins.

PMI

Total

IR

MLM

Investment

Interest

AC

10M

$264,000.00

$114,000.00

$1,154.19

$440.00

$250.00

$47.50

$1,844.19

4%

120

$288,503.35

$24,503.35

10B

$264,000.00

$114,000.00

$577.10

$203.08

$115.38

$21.92

$895.56

4%

103

$284,716.72

$20,716.72

15M

$297,000.00

$147,000.00

$1,087.34

$495.00

$250.00

$61.25

$1,832.34

4%

180

$345,721.43

$48,721.43

15B

$297,000.00

$147,000.00

$543.67

$228.46

$115.38

$28.27

$887.52

4%

154

$338,003.85

$41,003.85

20M

$321,000.00

$171,000.00

$1,036.23

$535.00

$250.00

$71.25

$1,821.23

4%

240

$398,694.33

$77,694.33

20B

$321,000.00

$171,000.00

$518.12

$246.92

$115.38

$32.88

$880.43

4%

205

$386,126.37

$65,126.37

25M

$340,000.00

$190,000.00

$1,002.89

$566.67

$250.00

$79.17

$1,819.56

4%

300

$450,867.00

$110,867.00

25B

$340,000.00

$190,000.00

$501.45

$261.54

$115.38

$36.54

$878.37

4%

256

$432,603.45

$92,603.45

30M

$354,000.00

$204,000.00

$973.93

$590.00

$250.00

$85.00

$1,813.93

4%

360

$500,613.79

$146,613.79

30B

$354,000.00

$204,000.00

$486.97

$272.31

$115.38

$39.23

$874.66

4%

307

$476,076.14

$122,076.14

35M

$365,000.00

$215,000.00

$951.97

$608.33

$250.00

$89.58

$1,810.30

4%

420

$549,825.59

$184,825.59

35B

$365,000.00

$215,000.00

$475.99

$280.77

$115.38

$41.35

$872.14

4%

358

$518,465.96

$153,465.96

40M

$373,000.00

$223,000.00

$932.00

$621.67

$250.00

$92.92

$1,803.67

4%

480

$597,361.34

$224,361.34

40B

$373,000.00

$223,000.00

$466.00

$286.92

$115.38

$42.88

$868.31

4%

409

$558,843.20

$185,843.20

45M

$380,000.00

$230,000.00

$919.04

$633.33

$250.00

$95.83

$1,802.37

4%

540

$646,280.55

$266,280.55

45B

$380,000.00

$230,000.00

$459.52

$292.31

$115.38

$44.23

$867.21

4%

461

$600,106.93

$220,106.93

50M

$385,000.00

$235,000.00

$906.41

$641.67

$250.00

$97.92

$1,798.08

4%

600

$693,846.87

$308,846.87

50B

$385,000.00

$235,000.00

$453.21

$296.15

$115.38

$45.19

$864.75

4%

512

$639,842.56

$254,842.56

Report Legend

Term - Length of mortgage in years and different payment methods. (M = monthly, B = bi-weekly)

Home Value - Value of the home at purchase. (mortgage loan amount + downpayment)